Charter Payments, Meet the 21st Century

Yachtly Payments

Yachtly is a payment solution specifically designed for the luxury yacht booking ecosystem. It seamlessly connects all the stakeholders involved in the booking process, enabling the setup of charter payments in a transparent and predictable manner. This approach significantly reduces commissions, delays, and stress. Our team has developed the application entirely from scratch.

We’re on the brink of 2023, and yacht charter payments are still frustrating. Enter Yachtly — paying and getting paid made simple for clients, brokers, stakeholders, and yacht managers.
Did we mention that it’s all under one intuitive UI? We have now.

Project type

Application

Services

Development Interaction Design Interface Design UX Design Web App Development

Technologies

Java React Stripe

The Problem

United States’ yacht charter industry still uses 20th century tools, and in the age of credit cards and payment apps, there’s still no transparency nor predictability around luxury yacht bookings.
Yachtly’s “out with the old, in with the new” approach birthed a payment tool perfectly tailored to the industry, accounting for the needs of all parties involved in charter processing. Automation and convenience are the game’s name now, and “forgotten/lost invoices” horror stories can finally enter the realm of myth.

The Challenge

Yachtly, a cutting-edge payment platform, was specifically designed to cater to the unique requirements of the luxury charter yacht industry. It aimed to streamline the fund distribution process by integrating with Stripe Treasury. However, this integration was not without its challenges. Stripe Treasury was a relatively new product with limited real-world examples, and the Yachtly team had to navigate uncharted territory.

By leveraging one of the best payment gateways, Yachtly was able to provide robust payment processing capabilities tailored to the yachting sector. This included support for multiple currencies, compliance with maritime regulations, and features like virtual accounts and instant payouts. With Yachtly’s seamless Stripe Treasury integration, charter clients could easily pay captains and crew, while owners received their charter revenue quickly and securely.v

The Solution

With the successful integration with one of the best payment gateways, Stripe, Yachtly revolutionized the payment experience in the luxury charter yacht industry. The platform now utilizes Stripe Treasury API to easily distribute funds among multiple parties involved in the business process. Clients can make payments using various methods, including credit cards, ApplePay, Google Pay, Microsoft Pay, and Bank Account payments. Yachtly ensures the secure collection of bank data and handles payment webhooks, following best practices recommended by Stripe.

This has resulted in a streamlined fund distribution process tailored to the specific needs of the yachting industry. Brokers can create charters, collect payments from guests, and facilitate the seamless transfer of funds to stakeholders and yacht management parties.